ProShares Launches Two Short ETFs in Energy, Financial Sectors

ProShares announced new funds that leverage desirable exposure to the oil and financial sectors.

As oil prices are near records and the sub-prime woes continue to shake up the financial sector, it is no secret that investors are seeking to benefit from the volatility in these markets, according to ProShares. The company said the trend is evident in the success of its two funds offering leveraged, short exposure to these sectors, which are among the firm’s most popular exchange-traded funds (ETFs). UltraShort Oil & Gas ProShares has attracted $2.3 billion in net flows year to date and UltraShort Financials ProShares has attracted $1 billion.

To capitalize further on these sectors, ProShares is introducing two new ETFs for investors who want short exposure: Short Oil & Gas ProShares and Short Financials ProShares. Both are designed to go up when stock indexes on the sectors go down (and down when the indexes go up), the company said.

ProShares now offers 26 sector ETFs, including this lineup of six covering the energy and financial sectors. Using the Dow Jones U.S. Oil & Gas Index for oil and gas, ProShares offers: Short Oil & Gas (ticker: DDG); UltraShort Oil & Gas (ticker: DUG); and Ultra Oil & Gas (ticker: DIG). Using the Dow Jones U.S. Financials Index these funds are available: Short Financials (ticker: SEF); UltraShort Financials (ticker: SKF); and Ultra Financials (ticker: UYG)

A ProShares ETF prospectus is available at or by calling 866.PRO.5125.